Hedge funds turn from Opec friend to adversary in oil market

Posted by: Anu Chandra on 26-06-2017

Traders have built up short positions and may yet force cartel to make bigger cuts. Opec set out to woo some of the biggest oil hedge funds in the industry at the turn of the year, holding private meetings where it laid out plans to cut crude supplies in an attempt to get prices back towards $60 a barrel.